DNO International ASA has been selected by the Ministry of Oil and Minerals of the Republic of Yemen as successful bidder for onshore Block 84. The Company also announced that it has separately entered into a farm-in agreement with respect of Block 36 onshore in the Sultanate of Oman.

DNO Yemen AS has been awarded a 59.5 percent participating interest (70 percent paying interest) and operatorship of Block 84, joining Turkey's Dogan Enerji Yatirimlari Sanayi ve Ticaret A.S. with a 25.5 percent participating interest (30 percent paying interest) and Yemen Oil and Gas Corporation, a state company, with a 15 percent participating interest. The partners will acquire new 3D seismic and drill two exploration wells during the first exploration period.

The Block 36 farm-in agreement provides for the transfer to DNO Oman AS of a 75 percent participating interest (100 percent paying interest) from Allied Petroleum Exploration Inc. The Company will assume operatorship and fund reprocessing of existing and acquisition of new 2D seismic data and drilling of two exploration wells.

Tags: DNO International